QGPC's Capital Raised by 25% to $1.37bn

The Qatari Council of Ministers on 1 May approved a 25% increase in the capital of the state-owned Qatar General Petroleum Corporation (QGPC) from QR4bn ($1.1mn) to QR5bn ($1.37bn).

QGPC, which was established in 1974 with a capital of QR1bn, handles all oil industry operations on behalf of the state, including exploration, drilling, production, refining, transportation and storage, and owns Qatari interests in oil industry joint-venture...